Phase 3 Real Estate Partners signs new lease San Diego

SAN DIEGO, CALIF., February 3, 2023 – Confirming the attractiveness of San Diego as a premier life science market, Phase 3 Real Estate Partners, Inc. announced that is has signed Nautilus Biotechnology to a new 7,064-square-foot lease at GENESIS - HQ, a two-story, 29,874-square foot Class A life science building located at 4475 Executive Drive in San Diego, California. This new lease represents an expansion for the life science company into San Diego and brings the building to 100% occupancy, fully leased prior to construction completion.

Nautilus Biotechnology will broaden its workforce for research and development functions including mechanical engineering, reagent development, software engineering, and bioinformatics. The space was under construction on a speculative basis at the time of lease signing with completion planned to accommodate the firm’s desired occupancy.

“San Diego’s vibrant biotech community is a significant contributor to advancements across the industry,” said Nick Nelson, SVP and Chief Business Officer at Nautilus. “We’re thrilled to scale our team in an ecosystem especially suited to accelerating proteomics — a critical but relatively unexplored sector of science that we believe is poised to revolutionize biomedicine and basic science research.”

JLL’s Chad Urie, Grant Schoneman and Taylor DeBerry represented the landlord, Phase 3 Real Estate Partners, Inc., in the lease. Nautilus Biotechnology was represented by Darren Morgan, Michael Dash and Matt Walters of CBRE.

"Life science tenants in today’s market are looking for best in class real estate which can be occupied quickly,” said Grant Schoneman, JLL Executive Managing Director. “The spec suites at 4475 Executive Drive provided immediate occupancy of newly built-out lab and office space which will allow them to attract and retain talent as they grow their San Diego footprint.”

GENESIS - HQ is ideally located within San Diego’s biotech cluster and has direct connection to the vibrant life science community within the UTC submarket. Phase 3 purchased this central project to not only headquarter its’ local development team, but to continue to foster the relationships with the life science tenants within its portfolio. Robust infrastructure, premier finishes and thoughtful designs were curated by the Phase 3 team with their tenants top of mind to incubate, grow, and succeed in their endeavours.

Phase 3 Real Estate Partners, Inc., ("Phase 3") develops premier ready to occupy research and development facilities in the major innovation clusters of the United States. Phase 3's focus on delivering the highest quality space with accelerated speed to occupancy within these key geographies allows companies to immediately pursue their scientific goals. The Phase 3 team delivers a clean, modern design aesthetic, the right combination of amenities to create community and appropriate infrastructure to meet the needs of the companies who call our facilities home. The firm's expertise in development, construction and management of life science facilities results in a strong partnership between our tenants and our team. Phase 3's current portfolio consists of nearly 4.5 million square feet and is growing in San Diego, San Francisco and Boston. For more information, visit www.P3RE.com.